TAQA selects Citi to provide local domestic cash management services and a global liquidity structure

Notes and media contacts

About Abu Dhabi National Energy Company PJSC (TAQA)
Founded in 2005, TAQA (Abu Dhabi National Energy Company (PJSC)) is a global energy company with a growing asset base approaching Dhs86bn ($23.4bn). One of the largest companies listed on the Abu Dhabi Securities Exchange (ADX), with 2007 revenues of more than Dhs8bn ($2bn), TAQA is a flagship corporation for the Government of Abu Dhabi.

TAQA's strategic goal is to build and operate a geographically diverse global portfolio of energy businesses across the value chain. It has operations in power generation, water desalination, upstream oil/gas, pipelines, and gas storage.

TAQA has a strong focus on expanding its Upstream activities in Europe and North Africa. In the Netherlands, TAQA acquired BP Netherlands' gas exploration and production assets including onshore, offshore and storage facilities in 2007, located in the Dutch Continental Shelf of the North Sea and in the region of Alkmaar in the North Western part of the Netherlands. TAQA's assets in the North Sea are operated under the subsidiary TAQA Energy B.V. TAQA Offshore B.V. is a wholly owned subsidiary of TAQA Energy B.V.

TAQA employs approximately 2,800 people from 38 different nations and operates from its offices in: Abu Dhabi; Ann Arbor, Michigan; Aberdeen; Amsterdam; Calgary and The Hague. This footprint is further extended through alliances with partners across Africa, the Middle East, Europe, North America and India.

TAQA carries Aa2 and AA- credit ratings from Moody's and S&P respectively.


About Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brands include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com

The above information is being provided solely for information purposes by Citi. At the time of publication, this information was believed to be accurate, but Citi makes no representation or warranty as to the correctness of the information set forth above. The above information does not constitute a recommendation, solicitation or offer by Citi for the purchase or sale of any securities, nor shall this material be construed in any way as investment or legal advice or a recommendation, reference or endorsement by Citi.

for more details please contact:
TAQA
Reem Al Midwahi
Tel: +971 2 6914940

CITI London
Jean Dumas
Tel:+442079865603

Capital MS&L Dubai
Daniela Fleischmann, Capital MS&L
Tel: +971 4367 6164

CITI UAE
Karim Seifeddine
Tel:+97146044392